TechFlow News — According to Cointelegraph, Yearn Finance (YFI) has released its first informal quarterly report, stating that the Yearn Finance protocol generated a net income of $3.79 million during the quarter, primarily from its yVault products. The yUSD vault accounted for 68% of total revenue, making it the largest income source. The yETH vault, introduced in September, generated $545,000 in revenue during the period but was quickly paused to mitigate risks and losses. The yETH vault remains closed to depositors and currently yields less than 1%, though Yearn plans to relaunch it in an upcoming second version. The report noted that most of the vaults' revenue came from a 0.3% withdrawal fee, and indicated that a new fee structure will be implemented soon. The report showed that Yearn Finance's total operating expenses amounted to $306,000, with administrative salaries and security costs accounting for approximately 56% and 27% respectively. In addition to grants for ecosystem contributors, fees were also used to cover audits and bug bounties.
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